Man this is the future I came from a poor family that couldnt afford college and i had to drop out of HS due to life circumstances, Im now 21 jobless and no ones hiring stone masons in my area (the only skills i do have) but ive always had a love for technology ive always been good with it, i built my first computer at 7, but i didnt know how to make that love a career with out taking out federal loans and wasting 4 years of my life for a degree that might not get me a job. Ive been feeling absolutley hopeless about the future lately. but i found lambda school, if you guys are any as good as you say this might change my life with your income share agreement i can actually pursue education with out fear of massive crushing financial consequences
I enjoy listening to this great guy! I could listen to him for the whole day and won't get tired. He holds your attention, communicates clearly and simply. Thanks for taking out time to explain the ISA.
Thank you so much Austin for accepting my application I hope to pass my aptitude test 🙏 👩💻 🤓 and also complete the curriculum I love the commrodery and approach I am to continue the vibe and honor the opportunity to grow with lambda 😷
Such a brilliant idea, if Lambda School is successful for years on end, I believe that this will change Higher Education as we know it. Was just accepted into the Part-Time Full Stack Web Development course yesterday. CANNOT WAIT TO START!
This is a really cool approach to paying for school. If you use what you learn then you pay for it, it would be cool if more schools did things like that.
This is an unbelievably good deal/idea. Imagine what it would feel like having these people gamble that /you/ are going to win at life? UCLA doesn't care if you graduate, much less get a job, they get paid either way. God, being done paying for school in two years, and only if you have a job in the related field, this is amazing.
So the amount to pay is figured on the gross pay but the money isn't paid until after taxes are taken out. That works out to be more than 17% if in fact it is done that way. It is more like 24%. Or should I say "feels" like 24% since it appears the money is taken out after taxes. Which is what it would be if it is taken out of your bank account.
Jimtrader01 this is how paying for any other school or paying off a loan works as well. (Not to discredit your point just thought it should be said it is the same as all other schools or loans in that it is being paid with your take home post tax money).
I think they have a very rigorous process that screens individuals who might not be able to finish, but there are life circumstance that cannot be predicted that would cause one to stop the program. I would like a response to your question as well.
I like this video, it answers quite a lot of questions. There are a few however that were not answered and probably even more that I can't think of at the moment as well. One question I can think of though is what if a students decides they still want to pay off what they normally would have to towards that income share agreement? such as that bartender making $100,000 a year could he choose to pay the money towards his tuition anyway even though he is not in the right field? The same question could be applied to the student who is making less than $50,000 a year, even though it is difficult to do so, in some places it may be possible for this student to lead a very comfortable life still. What if this student wants to make some payments towards the agreement so that it won't need to be dealt with later? If they are allowed to what is the method to determine how much and how often they are allowed to pay and does the cap come into play at all? if the cap does come into play does it still base it off of total income or do students get the default lowest amount of $17k to pay off?
If I finish the program and cannot find a job in software and need to work in a different industry/job that pays the minimum income, do I still have to pay the amount in the agreement?
Paying 17% of salary is massive (after taxes are taken out). Is interest deductible? With a loan like this, I wouldn't live in California, where most of the high paying engineering jobs are found, if we are already paying 35-50% in income tax (Federal + State), high cost of living (sales tax 8.50-10.25% in SF and LA), and then expensive housing.
Is there a way to know if my school offers this option? For example my husband is a pharmacy student at Idaho state university a pharm d degree is considered post graduate does it still apply?
I have applied for full stack web developer and my application is already approved. I have completed my pre course. Now I am waiting for the class and I don't know how can I take the class because after completing my pre course I have not received any email from lambda. My course start date is August 5 which is already passed. Please anybody help me.
How is this product a good idea? As borrower, in any circumstance, I would want to repay the lowest amount possible...which is zero. If the minimum salary is 50,000; then I would ask for a salary of $49,999 until the contract expires and burn the investor. Also, there is a cap on how much a borrower has to repay, but there's no floor?
Lol if you’re stuck making less than 50k as a software engineer for 5 years you’re definitely doing something wrong. Lambda caps at 30k or two years of continuous repayment so if you make less than 100k, you’ll hit the two years, if you make more you finish before the two year mark. Some people from the program were making 10-12 an hour and are now in the 130Ks salary so I’ll take paying 30k to increase my salary 5-7x that’s chump change to what I’ll save in the future.
You mention salary. How about, say, I want to become a freelance web developer? That could be rather complicated, depending on how I pay myself versus what my s corp makes, for example. How does freelancing fit with your model?
@@DunkinNugget it is but I didn't like the way they were teaching. I needed more hands on. And the Android Course didn't teach you fundamentals. If you do go take a different course. If you don't have any experience in coding. I suggest do backend which is mostly query and databases. Much easier to learn but can get boring
I'm from a small town in India i.e. Dhanbad , Jharkhand , India. I'm interested to study online with Income Sharing Agreement. My age is above 40 ( Date of Birth 22-09-1975 ). Please let me know , how you can help me to study with the condition of the Income Sharing Agreement
Man this is the future I came from a poor family that couldnt afford college and i had to drop out of HS due to life circumstances, Im now 21 jobless and no ones hiring stone masons in my area (the only skills i do have) but ive always had a love for technology ive always been good with it, i built my first computer at 7, but i didnt know how to make that love a career with out taking out federal loans and wasting 4 years of my life for a degree that might not get me a job. Ive been feeling absolutley hopeless about the future lately. but i found lambda school, if you guys are any as good as you say this might change my life with your income share agreement i can actually pursue education with out fear of massive crushing financial consequences
I come from a similar background! Was studying accounting even though I wasn't interested but eventually had to leave to support my family
I enjoy listening to this great guy! I could listen to him for the whole day and won't get tired. He holds your attention, communicates clearly and simply. Thanks for taking out time to explain the ISA.
Thank you so much Austin for accepting my application I hope to pass my aptitude test 🙏 👩💻 🤓 and also complete the curriculum I love the commrodery and approach I am to continue the vibe and honor the opportunity to grow with lambda 😷
Such a brilliant idea, if Lambda School is successful for years on end, I believe that this will change Higher Education as we know it. Was just accepted into the Part-Time Full Stack Web Development course yesterday. CANNOT WAIT TO START!
For what school? I was actually looking into web development as well
Do you need to have good credit? If you have bad credit from student loan debt will it prevent you from being able to do the income share agreement?
This is a really cool approach to paying for school. If you use what you learn then you pay for it, it would be cool if more schools did things like that.
Very nice video very professional and short and sweet i love it.
This is an unbelievably good deal/idea. Imagine what it would feel like having these people gamble that /you/ are going to win at life? UCLA doesn't care if you graduate, much less get a job, they get paid either way. God, being done paying for school in two years, and only if you have a job in the related field, this is amazing.
So the amount to pay is figured on the gross pay but the money isn't paid until after taxes are taken out. That works out to be more than 17% if in fact it is done that way. It is more like 24%. Or should I say "feels" like 24% since it appears the money is taken out after taxes. Which is what it would be if it is taken out of your bank account.
Jimtrader01 this is how paying for any other school or paying off a loan works as well. (Not to discredit your point just thought it should be said it is the same as all other schools or loans in that it is being paid with your take home post tax money).
That is a very good point that I didn't consider.
Aim is spelled ✍️ incorrectly 👀
You learn something new everyday. Didn't even know that ISAs were a thing. I can understand why they aren't commonplace though.
Why not?
Very informative video. Thank you.
My question is, what if you drop out after a month, do you still have to pay for those months or not?
I think they have a very rigorous process that screens individuals who might not be able to finish, but there are life circumstance that cannot be predicted that would cause one to stop the program.
I would like a response to your question as well.
I like this video, it answers quite a lot of questions. There are a few however that were not answered and probably even more that I can't think of at the moment as well. One question I can think of though is what if a students decides they still want to pay off what they normally would have to towards that income share agreement? such as that bartender making $100,000 a year could he choose to pay the money towards his tuition anyway even though he is not in the right field? The same question could be applied to the student who is making less than $50,000 a year, even though it is difficult to do so, in some places it may be possible for this student to lead a very comfortable life still. What if this student wants to make some payments towards the agreement so that it won't need to be dealt with later? If they are allowed to what is the method to determine how much and how often they are allowed to pay and does the cap come into play at all? if the cap does come into play does it still base it off of total income or do students get the default lowest amount of $17k to pay off?
It's impossible to make advanced payments because it's not yet determined what the total payment amount will be.
If I finish the program and cannot find a job in software and need to work in a different industry/job that pays the minimum income, do I still have to pay the amount in the agreement?
Paying 17% of salary is massive (after taxes are taken out). Is interest deductible? With a loan like this, I wouldn't live in California, where most of the high paying engineering jobs are found, if we are already paying 35-50% in income tax (Federal + State), high cost of living (sales tax 8.50-10.25% in SF and LA), and then expensive housing.
There is no interest so it's not decuted.
Are the payments on the ISA tax deductible?
No
Is there a way to know if my school offers this option? For example my husband is a pharmacy student at Idaho state university a pharm d degree is considered post graduate does it still apply?
so I have Crappy credit will that influence the decision on the ISA?
I have applied for full stack web developer and my application is already approved. I have completed my pre course. Now I am waiting for the class and I don't know how can I take the class because after completing my pre course I have not received any email from lambda. My course start date is August 5 which is already passed. Please anybody help me.
How is this product a good idea? As borrower, in any circumstance, I would want to repay the lowest amount possible...which is zero. If the minimum salary is 50,000; then I would ask for a salary of $49,999 until the contract expires and burn the investor. Also, there is a cap on how much a borrower has to repay, but there's no floor?
Exactly what I was thinking. "After 5 years, the contract 'goes away' *poof*. Unlikely there isn't any fine print.
Lol if you’re stuck making less than 50k as a software engineer for 5 years you’re definitely doing something wrong. Lambda caps at 30k or two years of continuous repayment so if you make less than 100k, you’ll hit the two years, if you make more you finish before the two year mark. Some people from the program were making 10-12 an hour and are now in the 130Ks salary so I’ll take paying 30k to increase my salary 5-7x that’s chump change to what I’ll save in the future.
You mention salary. How about, say, I want to become a freelance web developer? That could be rather complicated, depending on how I pay myself versus what my s corp makes, for example. How does freelancing fit with your model?
Todd Boothbee any income counts and we’d look at tax return, so freelancing income would work the same way
what about outside the USA.
Private investors are offering 4% with no cap.
What I read in the ISA is that you have to give Leif access to your bank account. I don't like that.
well if only this school existed before I went do Devry and became 80k in debt
JT Saiyan good fight lol
Wait seriously? I'm really thinking in going into this Lambda School, sounds like a good deal.
@@DunkinNugget it is but I didn't like the way they were teaching. I needed more hands on. And the Android Course didn't teach you fundamentals. If you do go take a different course. If you don't have any experience in coding. I suggest do backend which is mostly query and databases. Much easier to learn but can get boring
Thank you
I'm from a small town in India i.e. Dhanbad , Jharkhand , India.
I'm interested to study online with Income Sharing Agreement.
My age is above 40 ( Date of Birth 22-09-1975 ).
Please let me know , how you can help me to study with the condition of the Income Sharing Agreement
Is this based off gross or net income?
Gross
Scam
You really don't like talking about this topic; you're blinking non-stop.